Airbnb Stock Slides After Q3 Performance, Q4 Outlook: Explainer
Portfolio Pulse from Adam Eckert
Airbnb Inc (NASDAQ:ABNB) reported Q3 revenue of $3.4 billion, beating the consensus estimate of $3.37 billion. The company's earnings per share were $6.63, surpassing analyst estimates of $2.10. The strong results were driven by travel demand and foreign exchange rate tailwinds. However, the company's shares fell by 3.11% after hours due to a Q4 outlook that was below consensus estimates.
November 01, 2023 | 8:38 pm
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Airbnb's Q3 results beat estimates, but its shares fell due to a lower-than-expected Q4 outlook.
Airbnb's Q3 results were strong, beating both revenue and EPS estimates. This is typically positive for the stock. However, the company's Q4 outlook was below consensus estimates, which likely led to the after-hours drop in the stock price. The outlook is a key factor that investors consider when making investment decisions, and a lower-than-expected outlook can lead to selling pressure.
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